For release on
May 26, 2011
The Board's H.4.1 statistical release ("Factors Affecting Reserve Balances of Depository Institutions
and Condition Statement of Federal Reserve Banks") for May 12, 2011, understated the amount of
loans outstanding under the Term Asset-Backed Securities Loan Facility and other liabilities by $22.5
million due to the recording of a loan payment one day early. As a result, corrections to tables 1, 2,
8, and 9 have been made.
In table 1, the amount of loans outstanding under the "Term Asset-Backed Securities Loan Facility"
on Wednesday, May 11, 2011, was corrected from $15,308 million to $15,330 million, and the
related weekly average value was corrected from $15,703 million to $15,706 million. Also in table 1,
the amount of "Other liabilities and capital" on Wednesday, May 11, 2011, was corrected from
$72,735 million to $72,758 million, and the related weekly average value was corrected from $73,931
million to $73,934 million.
In table 2, the amount of "Loans" with remaining maturities of "Over 1 year to 5 years" was
corrected from $15,293 million to $15,316 million and the amount of "Loans" in the "All" maturity
category was corrected from $15,330 million to $15,353 million.
In tables 8 and 9, the total amount of "Loans" was corrected from $15,330 million to $15,353
million. In table 8, the amount of "Other liabilities and accrued dividends" was corrected from
$20,171 million to $20,194 million. In table 9, the total amount of "Other liabilities and accrued
dividends" was corrected from $19,007 million to $19,029 million. In table 9, the corrections also
affected the "New York" amounts for "Loans," which revised from $15,308 million to $15,330
million, and "Other liabilities and accrued dividends," which revised from $14,825 million to
$14,847 million.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
May 12, 2011
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended May 11, 2011
Federal Reserve Banks May 11, 2011 May 4, 2011 May 12, 2010
Reserve Bank credit 2,713,079 + 26,136 + 403,272 2,728,751
Securities held outright (1) 2,503,309 + 25,896 + 460,842 2,518,349
U.S. Treasury securities 1,451,169 + 25,895 + 674,393 1,466,209
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,365,856 + 24,065 + 653,833 1,380,842
Notes and bonds, inflation-indexed (2) 59,564 + 1,499 + 18,439 59,564
Inflation compensation (3) 7,327 + 332 + 2,123 7,381
Federal agency debt securities (2) 125,118 0 - 42,994 125,118
Mortgage-backed securities (4) 927,021 0 - 170,558 927,021
Repurchase agreements (5) 0 0 0 0
Loans 15,727 - 881 - 61,459 15,353
Primary credit 4 - 7 - 5,146 3
Secondary credit 0 - 1 - 486 0
Seasonal credit 17 + 5 - 26 20
Credit extended to American International
Group, Inc., net (6) 0 0 - 26,808 0
Term Asset-Backed Securities Loan Facility (7) 15,706 - 878 - 28,993 15,330
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 0 0 - 2 0
Net portfolio holdings of Maiden Lane LLC (9) 24,799 + 28 - 3,462 24,812
Net portfolio holdings of Maiden Lane II LLC (10) 14,972 - 1,116 - 867 14,985
Net portfolio holdings of Maiden Lane III LLC (11) 24,624 + 51 + 1,325 24,703
Net portfolio holdings of TALF LLC (12) 733 0 + 294 733
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (6) 0 0 - 25,416 0
Float -953 + 131 + 930 -1,032
Central bank liquidity swaps (13) 0 0 - 1,315 0
Other Federal Reserve assets (14) 129,869 + 2,028 + 32,402 130,850
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (15) 43,860 + 14 + 773 43,860
Total factors supplying reserve funds 2,773,180 + 26,151 + 404,045 2,788,852
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended May 11, 2011
Federal Reserve Banks May 11, 2011 May 4, 2011 May 12, 2010
Currency in circulation (15) 1,017,027 + 2,446 + 79,134 1,018,333
Reverse repurchase agreements (16) 56,375 - 2,703 + 2,134 54,715
Foreign official and international accounts 56,375 - 2,703 + 2,134 54,715
Others 0 0 0 0
Treasury cash holdings 151 - 10 - 34 150
Deposits with F.R. Banks, other than reserve balances 108,624 - 21,313 - 133,035 98,773
Term deposits held by depository institutions 0 - 5,081 0 0
U.S. Treasury, general account 99,593 - 15,433 + 65,288 87,894
U.S. Treasury, supplementary financing account 5,000 0 - 194,958 5,000
Foreign official 136 + 4 - 1,344 124
Service-related 2,546 + 1 - 119 2,546
Required clearing balances 2,546 + 1 - 119 2,546
Adjustments to compensate for float 0 0 0 0
Other 1,349 - 804 - 1,902 3,209
Funds from American International Group, Inc. asset
dispositions, held as agent (6) 0 0 0 0
Other liabilities and capital (17) 73,934 - 1,941 + 3,239 72,758
Total factors, other than reserve balances,
absorbing reserve funds 1,256,111 - 23,521 - 48,562 1,244,728
Reserve balances with Federal Reserve Banks 1,517,069 + 49,672 + 452,607 1,544,124
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the
remaining principal balance of the underlying mortgages.
5. Cash value of agreements.
6. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on
January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend
any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid
in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset
dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well
as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred
interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by
AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to
the Treasury as consideration for the draw on the available Series F funds.
7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term
Asset-Backed Securities Loan Facility.
8. Includes the book value of the commercial paper, net of amortized costs and related fees, and other
investments held by the Commercial Paper Funding Facility LLC.
9. Refer to table 4 and the note on consolidation accompanying table 9.
10. Refer to table 5 and the note on consolidation accompanying table 9.
11. Refer to table 6 and the note on consolidation accompanying table 9.
12. Refer to table 7 and the note on consolidation accompanying table 9.
13. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market
exchange rate used when the foreign currency was acquired from the foreign central bank.
14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange
rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the
Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on
January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and
ALICO Holdings LLC.
15. Estimated.
16. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
17. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to
entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only
to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation
accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S.
Treasury. Refer to table 8 and table 9.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Averages of daily figures Wednesday
Week ended Change from week ended May 11, 2011
Memorandum item May 11, 2011 May 4, 2011 May 12, 2010
Marketable securities held in custody for foreign
official and international accounts (1) 3,460,812 + 8,506 + 397,040 3,460,175
U.S. Treasury securities 2,699,317 + 8,731 + 426,244 2,698,773
Federal agency securities (2) 761,495 - 225 - 29,204 761,402
Securities lent to dealers 17,308 - 511 + 14,076 15,768
Overnight facility (3) 17,308 - 511 + 14,076 15,768
U.S. Treasury securities 16,446 - 546 + 14,395 15,009
Federal agency debt securities 862 + 35 - 318 759
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and
mortgage-backed securities at original face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 11, 2011
Millions of dollars
Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
Remaining maturity days 90 days 1 year to 5 years to 10 years years
Loans (1) 6 16 15 15,316 0 ... 15,353
U.S. Treasury securities (2)
Holdings 12,485 21,557 83,385 630,702 525,568 192,512 1,466,209
Weekly changes - 3,520 + 3,520 + 8 + 13,595 + 7,916 + 2,834 + 24,354
Federal agency debt securities (3)
Holdings 6,025 6,658 17,864 67,475 24,749 2,347 125,118
Weekly changes + 783 - 783 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 0 19 23 926,980 927,021
Weekly changes 0 0 0 0 0 0 0
Asset-backed securities held by
TALF LLC (5) 0 0 0 0 0 0 0
Repurchase agreements (6) 0 0 ... ... ... ... 0
Central bank liquidity swaps (7) 0 0 0 0 0 0 0
Reverse repurchase agreements (6) 54,715 0 ... ... ... ... 54,715
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
. . . Not applicable.
1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III
LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation
under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of
inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal
balance of the underlying mortgages.
5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. Cash value of agreements.
7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency
is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was
acquired from the foreign central bank.
3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Wednesday
Account name May 11, 2011
Mortgage-backed securities held outright (1) 927,021
Commitments to buy mortgage-backed securities (2) 0
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 0
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal
balance of the underlying mortgages.
2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls,
and coupon swaps.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name May 11, 2011
Net portfolio holdings of Maiden Lane LLC (1) 24,812
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 22,130
Accrued interest payable to the Federal Reserve Bank of New York (2) 683
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,339
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
March 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair
value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent
with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities
and accrued dividends in table 8 and table 9.
Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of
section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to
manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets.
Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses
of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to
JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.
5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Wednesday
Account name May 11, 2011
Net portfolio holdings of Maiden Lane II LLC (1) 14,985
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,542
Accrued interest payable to the Federal Reserve Bank of New York (2) 509
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,084
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
March 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair
value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent
with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of
American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued
interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table
8 and table 9.
Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the
authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential
mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group,
Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the
following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred
payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.
6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name May 11, 2011
Net portfolio holdings of Maiden Lane III LLC (1) 24,703
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 12,328
Accrued interest payable to the Federal Reserve Bank of New York (2) 605
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,429
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
March 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair
value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent
with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities
and accrued dividends in table 8 and table 9.
Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the
authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector
collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written
credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the
related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the
following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to
AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.
7. Information on Principal Accounts of TALF LLC
Millions of dollars
Wednesday
Account name May 11, 2011
Asset-backed securities holdings (1) 0
Other investments, net 733
Net portfolio holdings of TALF LLC 733
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0
Accrued interest payable to the Federal Reserve Bank of New York (2) 0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 107
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent
with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities
and accrued dividends in table 8 and table 9.
Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF)
under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New
York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to
assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed
securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are
non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans
are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial
risk of a decline in the value of the security.
TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in
connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed
securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest.
Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF
LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S.
Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio
holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S.
Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the
U.S. Treasury.
8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations from Wednesday Change since
consolidation May 11, 2011 Wednesday Wednesday
Assets, liabilities, and capital May 4, 2011 May 12, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,166 - 17 + 101
Securities, repurchase agreements, and loans 2,533,701 + 23,429 + 413,807
Securities held outright (1) 2,518,349 + 24,354 + 475,091
U.S. Treasury securities 1,466,209 + 24,354 + 689,417
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,380,842 + 22,527 + 668,819
Notes and bonds, inflation-indexed (2) 59,564 + 1,499 + 18,439
Inflation compensation (3) 7,381 + 328 + 2,161
Federal agency debt securities (2) 125,118 0 - 42,994
Mortgage-backed securities (4) 927,021 0 - 171,334
Repurchase agreements (5) 0 0 0
Loans 15,353 - 924 - 61,283
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 0 0 - 2
Net portfolio holdings of Maiden Lane LLC (7) 24,812 + 16 - 3,450
Net portfolio holdings of Maiden Lane II LLC (8) 14,985 + 15 - 856
Net portfolio holdings of Maiden Lane III LLC (9) 24,703 + 92 + 1,342
Net portfolio holdings of TALF LLC (10) 733 0 + 294
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (11) 0 0 - 25,416
Items in process of collection (99) 503 + 17 + 343
Bank premises 2,210 + 2 - 27
Central bank liquidity swaps (12) 0 0 - 9,205
Other assets (13) 128,625 + 2,161 + 32,197
Total assets (99) 2,748,675 + 25,714 + 409,128
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations from Wednesday Change since
consolidation May 11, 2011 Wednesday Wednesday
Assets, liabilities, and capital May 4, 2011 May 12, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 976,785 + 1,061 + 78,104
Reverse repurchase agreements (14) 54,715 - 2,258 - 1,932
Deposits (0) 1,642,882 + 28,007 + 332,040
Term deposits held by depository institutions 0 - 5,081 0
Other deposits held by depository institutions 1,546,654 + 71,175 + 453,809
U.S. Treasury, general account 87,894 - 37,503 + 71,601
U.S. Treasury, supplementary financing account 5,000 0 - 194,958
Foreign official 124 - 4 - 1,289
Other (0) 3,209 - 582 + 2,876
Deferred availability cash items (99) 1,535 - 192 - 837
Other liabilities and accrued dividends (15) 20,194 - 911 + 3,984
Total liabilities (99) 2,696,111 + 25,708 + 411,358
Capital accounts
Capital paid in 26,282 + 3 - 104
Surplus 26,282 + 3 + 668
Other capital accounts 0 0 - 2,794
Total capital 52,564 + 6 - 2,230
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the
remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Includes the book value of the commercial paper, net of amortized costs and related fees, and other
investments held by the Commercial Paper Funding Facility LLC.
7. Refer to table 4 and the note on consolidation accompanying table 9.
8. Refer to table 5 and the note on consolidation accompanying table 9.
9. Refer to table 6 and the note on consolidation accompanying table 9.
10. Refer to table 7 and the note on consolidation accompanying table 9.
11. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank
of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A
portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were
held as agent by the Federal Reserve.
12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange
rate used when the foreign currency was acquired from the foreign central bank.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates
and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to
eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG
recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in
AIA Aurora LLC and ALICO Holdings LLC.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to
entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to
the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation
accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S.
Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from
American International Group, Inc. asset dispositions, held as agent.
9. Statement of Condition of Each Federal Reserve Bank, May 11, 2011
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City Francisco
Assets
Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,166 54 81 162 162 358 174 336 34 62 162 219 363
Securities, repurchase agreements,
and loans 2,533,701 61,919 1,186,470 86,269 68,026 290,844 187,223 149,565 47,669 38,705 66,990 99,601 250,421
Securities held outright (1) 2,518,349 61,917 1,171,140 86,269 68,026 290,844 187,221 149,553 47,665 38,703 66,989 99,601 250,421
U.S. Treasury securities 1,466,209 36,049 681,850 50,227 39,605 169,332 109,002 87,071 27,751 22,533 39,002 57,989 145,798
Bills (2) 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
Notes and bonds (3) 1,447,786 35,596 673,283 49,595 39,108 167,205 107,632 85,977 27,402 22,250 38,512 57,260 143,966
Federal agency debt securities (2) 125,118 3,076 58,185 4,286 3,380 14,450 9,302 7,430 2,368 1,923 3,328 4,948 12,442
Mortgage-backed securities (4) 927,021 22,792 431,105 31,756 25,041 107,062 68,917 55,052 17,546 14,247 24,659 36,664 92,182
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 15,353 2 15,330 0 0 0 2 12 4 2 1 0 0
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 24,812 0 24,812 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 14,985 0 14,985 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 24,703 0 24,703 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 733 0 733 0 0 0 0 0 0 0 0 0 0
Preferred interests in AIA Aurora LLC
and ALICO Holdings LLC (11) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 601 18 96 162 59 9 40 39 7 30 30 19 94
Bank premises 2,210 124 255 68 138 238 217 207 136 107 263 246 212
Central bank liquidity swaps (12) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other assets (13) 128,625 3,450 54,901 6,205 4,738 17,296 9,132 6,713 2,156 2,417 2,957 4,450 14,210
Interdistrict settlement account 0 - 11,849 + 267,306 + 14,266 - 6,268 - 136,417 - 33,136 + 8,568 - 11,157 - 16,026 - 16,339 - 8,047 - 50,899
Total assets 2,748,773 54,303 1,580,025 107,773 67,541 173,611 165,698 166,708 39,313 25,580 54,533 97,498 216,190
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
9. Statement of Condition of Each Federal Reserve Bank, May 11, 2011 (continued)
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City Francisco
Liabilities
Federal Reserve notes outstanding 1,132,470 43,371 387,386 47,516 50,902 90,458 140,530 88,049 31,688 19,536 32,192 75,161 125,682
Less: Notes held by F.R. Banks 155,684 4,749 42,184 5,538 7,536 12,314 22,314 12,770 4,172 5,441 3,583 11,314 23,768
Federal Reserve notes, net 976,785 38,622 345,202 41,977 43,366 78,144 118,217 75,278 27,515 14,095 28,609 63,846 101,914
Reverse repurchase agreements (14) 54,715 1,345 25,445 1,874 1,478 6,319 4,068 3,249 1,036 841 1,455 2,164 5,441
Deposits 1,642,882 12,197 1,178,404 58,743 18,243 77,277 39,700 86,233 10,051 8,442 23,632 30,274 99,689
Term deposits held by depository
institutions 0 0 0 0 0 0 0 0 0 0 0 0 0
Other deposits held by depository
institutions 1,546,654 12,193 1,082,264 58,738 18,239 77,149 39,697 86,212 10,050 8,440 23,630 30,273 99,769
U.S. Treasury, general account 87,894 0 87,894 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 5,000 0 5,000 0 0 0 0 0 0 0 0 0 0
Foreign official 124 1 96 4 3 8 2 1 0 1 0 1 6
Other 3,209 3 3,150 0 1 120 1 19 1 0 1 0 -86
Deferred availability cash items 1,634 62 0 259 200 64 105 92 53 391 91 75 241
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,165 24 711 2 -3 63 87 86 25 7 36 57 69
Other liabilities and accrued
dividends (16) 19,029 217 14,847 309 308 875 523 439 188 166 194 303 660
Total liabilities 2,696,210 52,468 1,564,609 103,164 63,592 162,742 162,700 165,377 38,868 23,941 54,017 96,719 208,013
Capital
Capital paid in 26,282 917 7,708 2,304 1,974 5,435 1,499 665 222 820 258 389 4,089
Surplus 26,282 917 7,708 2,304 1,974 5,435 1,499 665 222 820 258 389 4,089
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 2,748,773 54,303 1,580,025 107,773 67,541 173,611 165,698 166,708 39,313 25,580 54,533 97,498 216,190
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
9. Statement of Condition of Each Federal Reserve Bank, May 11, 2011 (continued)
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
7. Refer to table 4 and the note on consolidation below.
8. Refer to table 5 and the note on consolidation below.
9. Refer to table 6 and the note on consolidation below.
10. Refer to table 7 and the note on consolidation below.
11. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO
Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York
(FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the
FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to
capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the
Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which
requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the
amount necessary to equate surplus with capital paid-in.
16. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have
recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Before the closing of the AIG recapitalization plan on January 14,
2011, included funds from American International Group, Inc. asset dispositions, held as agent.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was
extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector
collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to
Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc.
On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in
connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.
The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial
activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual
losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the
preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs
appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of
the LLCs, are included in other liabilities in this table (and table 1 and table 8).
10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Wednesday
Federal Reserve notes and collateral May 11, 2011
Federal Reserve notes outstanding 1,132,470
Less: Notes held by F.R. Banks not subject to collateralization 155,684
Federal Reserve notes to be collateralized 976,785
Collateral held against Federal Reserve notes 976,785
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 960,549
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,518,349
Less: Face value of securities under reverse repurchase agreements 50,582
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,467,767
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.